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James的股票投资James Share Investing

Author: James Ng   |   Latest post: Sun, 21 Jul 2019, 9:19 PM

 

[转贴] [YINSON HOLDINGS BHD:充满挑战的全球经济环境及其他货币对美元的波动] - James的股票投资James Share Investing

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[YINSON HOLDINGS BHD:充满挑战的全球经济环境及其他货币对美元的波动]

海洋:
部门业绩增加3,195万令吉,主要由于收入录得较高,但被贸易及其他应收款项减值亏损较高,税项可收回减值亏损以及净不利外汇变动所抵销。

其他业务:
较低的亏损主要是由于净有利的外汇变动和投资物业的公允价值损失较低,但由于行政管理费用增加和合资企业投资减值损失而被抵消。

合资企业的业绩:
截至2019年1月31日止财政年度,合营公司业绩减少3042万令吉至1266万令吉,而截至2018年1月31日止相应财政年度则为4308万令吉,主要由于相对而言FSO PTSC Bien Dong 01的预定合约费率较低,以及为继续部署FPSO PTSC Lam Son而签订的临时合约的租约率较低。

截至2019年1月31日止财政年度,联营公司业绩减少58万令吉至盈利15万令吉,而截至2018年1月31日止财政年度的盈利则为73万令吉,主要由于缺少关联公司的业绩份额,因为自2017年6月起,被重新分类为公司子公司。

税后综合利润:
于本财政年度,云升控股的税后利润减少2769万令吉或9.48%至2.6438亿令吉,而截至2018年1月31日止的相应财政年度则为2.9207亿令吉。减少主要归因于贸易及应收款项减值亏损较高,为174万令吉,可收回税项减值亏损为369万令吉,折旧及摊销较高额为6025万令吉,合营企业投资减值亏损为1,289万令吉,较低合资企业的业绩份额为3,042万令吉,融资成本增加到7,802万令吉,税项开支增加到979万令吉。

如果利润不受物业,厂房及设备减值亏损及合营企业投资减值亏损影响,则云升控股于本财政年度的税后利润将为3亿1030万令吉,而去年截至2018年1月31日止的相应财政年度则为3.2487亿令吉。

合并财务状况:
截至2018年1月31日止的上一个经审核财政年度,云升控股的短期负债由去年同期的7.6135亿令吉增加了5.5735亿令吉或73.21%至13.187亿令吉,主要是由于承担新的FPSO船舶转换所产生的应付账款增加,承认因卖掉附属公司26%股权而产生的认沽期权责任以及较高贷款及借贷的影响。云升控股的流动资金指标,Current Ratio(“流动资产”除以“短期负债”)减少至1.40倍,而截至2018年1月31日止的上一个经审核财政年度则为1.62倍。

与上一季相比:
PBT的增加主要归因于录得较高的收入,没有投资物业公平值的亏损350万令吉及物业,厂房及设备减值亏损净逆转1.0463亿令吉,但被贸易及其他应收款项减值亏损为109万令吉,可收回税项减值亏损369万令吉,净不利外汇变动4,852万令吉及合营企业投资减值亏损1289万令吉所抵销。

前景:
由于新的替代能源资源和金融机构对该行业的风险偏好,石油和天然气行业的短期至中期前景仍然具有挑战性和不确定性。目前全球经济总体面临着贸易保护主义抬头​​,地缘政治条件不确定以及下行风险加大的风险。维持主要经济体前所未有的宽松货币环境以鼓励企业的增长趋势变得不明朗,美国联邦储备委员会开始缓和其采取逐步增加利率政策的立场,这是由于持续的全球贸易争端间接导致的。在充满挑战的全球经济环境及其他货币对美元的波动中,云升控股将努力在截至2020年1月31日的下一个财政年度取得令人满意的业绩。
-----------------------------
James Ng Stock Pick Performance:
Since Recommended Return:

a) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM1.34 (dividend RM0.015) in 10 months 8 days, total return is 89.5%

b) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.40 in 6 months 4 days, total return is 75%

c) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.32 (dividend RM0.04) in 11 months 19 days, total return is 71.1%

d) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.58 (dividend RM0.0825) in 8 months 6 days, total return is 40.9%

e) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.25 (dividend RM0.008) in 5 months 28 days, total return is 30.4%

f) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.74 in 5 months, total return is 28.7%

g) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.55 (dividend RM0.035) in 7 months 2 day, total return is 24.8%

h) BJFOOD (BERJAYA FOOD BHD), recommended on 30 Sep 18, initial price was RM1.43, rose to RM1.66 (dividends RM0.03) in 8 months 21 days, total return is 18.2%

i) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM0.965 in 5 months 21 days, total return is 13.5%

j) SWKPLNT (SARAWAK PLANTATION BHD), recommended on 24 Mar 19, initial price was RM1.55, rose to RM1.74 in 2 months 27 days, total return is 12.3%

k) SERBADK (SERBA DINAMIK HOLDINGS BHD), recommended on 29 Jul 18, initial price was RM3.96, rose to RM4.10 (dividends RM0.084) in 10 months 22 days, total return is 5.7%

我希望将我的策略分享给读者,希望他们在阅读后能够表现出色。我正在使用基本面分析(Fundamental Analysis):

预计公司每年的增长率必须> 14%

我想说服读者学习基本面分析FA以便能从股市赚钱。

我为想从马来西亚股票市场赚钱的读者提供STOCK PICK服务。想订阅我的邮件以从股票市场获取良好回报的人,可以通过 jamesngshare@gmail.com 或我的FB页面 https://web.facebook.com/jamesshareinvest/ 与我联系

1)【股票-实际操作班】课程:
10a.m. – 9p.m.,免费午餐和晚餐

7月14日星期日:AG Hotel Penang, George Town

7月28日星期日:Silka Johor Bahru Hotel, Johor Bahru

9月7日星期六:Hotel Sri Petaling, KL

2)【看懂年报和季报】课程:
11a.m. – 7p.m.,免费茶和咖啡

7月27日星期六:Silka Johor Bahru Hotel, Johor Bahru 5份点心

8月11日星期日:AG Hotel Penang, George Town 4份点心

9月8日星期日:Hotel Sri Petaling, KL 3份点心

3) 【公司业绩分享会】:
2p.m. – 7p.m.,免费茶和咖啡

7月13日星期六:AG Hotel Penang, George Town 4份点心

7月21日星期日:Hotel Sri Petaling, KL 3份点心

7月26日星期五:Silka Johor Bahru Hotel, Johor Bahru 5份点心

有兴趣的朋友,可以电邮或PM FB page联络我
email:jamesngshare@gmail.com
电话/Whatsapp : 011 - 15852043

为了方便大家查询我写过的公司和选股文章以及视频,制作了索引。大家只要依照日期,就能从这 
https://web.facebook.com/jamesshareinvest/posts/2302632626670145 找到公司和选股文章以及视频。

James的股票投资James Share Investing Blog: https://klse.i3investor.com/blogs/general/

James的股票投资James Share Investing Blog Index: https://klse.i3investor.com/blogs/general/blidx.jsp

Facebook Group: https://www.facebook.com/groups/jamesinvesting

这个是我的TELEGRAM Group链接,大家可以在这个Group获知何时做Fb live: https://t.me/joinchat/LhwHNhdU1fDgxrSafTrTiw

请大家来Follow James的Instagram,获取最新的资讯: https://www.instagram.com/p/By85zhyHh4D

这个分享纯属讨论以及领域的分析,买或卖自负。请Like和Share这个post。最终决定永远是你的,谢谢。

James Ng
--------------------------------
[YINSON HOLDINGS BHD: challenging global economic environment and the volatility of other currencies against US Dollar]

Offshore & Marine:
The segment results increased by RM31.95 million mainly due to higher recorded revenue but set-off by higher impairment loss on trade and other receivables, impairment loss on tax recoverable and net unfavorable foreign exchange movement.

Other Operations:
The lower loss was mainly driven by net favorable foreign exchange movement and lower fair value loss on investment properties but set-off by higher administrative overheads and impairment loss on investment in a joint venture.

Results of Joint Ventures and Associates:
The share of the results of joint ventures has decreased by RM30.42 million to profit of RM12.66 million for the financial year ended 31 January 2019 as compared to RM43.08 million for the corresponding financial year ended 31 January 2018 mainly due to comparatively lower scheduled contract chartering rate for FSO PTSC Bien Dong 01 and lower chartering rate from the interim contract entered for continue deployment of FPSO PTSC Lam Son.

The share of results of associates has decreased by RM0.58 million to profit of RM0.15 million for the financial year ended 31 January 2019 as compared to profit of RM0.73 million for the financial year ended 31 January 2018 mainly due to the absence of share of results upon an associated company reclassification as the Company’s subsidiary since June 2017.

Consolidated profit after tax:
For the current financial year under review, the Group’s profit after tax has decreased by RM27.69 million or 9.48% to RM264.38 million as compared to RM292.07 million for the corresponding financial year ended 31 January 2018. The decrease was mainly attributable to higher impairment loss on trade and receivables of RM1.74 million, impairment loss on tax recoverable of RM3.69 million, higher depreciation and amortisation of RM60.25 million, impairment loss on investment in a joint venture of RM12.89 million, lower share of results in joint ventures of RM30.42 million, higher finance cost of RM78.02 million and higher tax expenses of RM9.79 million.

Should the results not be affected by impairment loss on property, plant & equipment and impairment loss on investment in a joint venture, the Group’s profit after tax for the current financial year under review would be RM310.30 million as compared to RM324.87 million for the corresponding financial year ended 31 January 2018.

Consolidated financial position:
the Group’s current liabilities has increased by RM557.35 million or 73.21% to RM1,318.70 million from RM761.35 million for the last audited financial year ended 31 January 2018 mainly due to the higher payables position incurred to undertake new FPSO vessel conversion, recognition of put option liability arising from the disposal of 26% equity interest in a subsidiary and effect of higher loans and borrowings. The Group’s liquidity indicators, Current Ratio (Calculated as “Current Assets” divided by “Current Liabilities”) decreased to 1.40 times as compared to 1.62 times for the last audited financial year ended 31 January 2018.

Compared with Preceding Quarter:
The increase of PBT was mainly attributable to profit on higher recorded revenue, absence of fair value loss on investment properties of RM3.50 million and net reversal effect on impairment loss on property, plant & equipment of RM104.63 million, set-off mainly by impairment loss on trade and other receivables of RM1.09 million, impairment loss on tax recoverable of RM3.69 million, net unfavorable forex movement of RM48.52 million and impairment loss on investment in a joint venture of RM12.89 million.

Prospects:
The short-term to medium-term outlook in the oil and gas industry remains challenging and uncertain due to emerging new alternative energy resources and financial institutions risk appetite towards the sector. Overall current global economic is exposed to the risk of increasing trade protectionism, geopolitical conditions uncertainty, with higher downside risks. Tendency to uphold the unprecedented easing of monetary conditions in major economies to encourage businesses has growth uncertain with the Federal Reserve of United States soften its stands in adopting gradual incremental policy on interest rate indirectly resulted from on-going global trade disputes. Amid the challenging global economic environment and the volatility of other currencies against US Dollar, the Group shall strive to achieve satisfactory results for the next financial year ending 31 January 2020.
--------------------------------------------------------------------------
James Ng Stock Pick Performance:
Since Recommended Return:

a) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM1.34 (dividend RM0.015) in 10 months 8 days, total return is 89.5%

b) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.40 in 6 months 4 days, total return is 75%

c) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.32 (dividend RM0.04) in 11 months 19 days, total return is 71.1%

d) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.58 (dividend RM0.0825) in 8 months 6 days, total return is 40.9%

e) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.25 (dividend RM0.008) in 5 months 28 days, total return is 30.4%

f) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.74 in 5 months, total return is 28.7%

g) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.55 (dividend RM0.035) in 7 months 2 day, total return is 24.8%

h) BJFOOD (BERJAYA FOOD BHD), recommended on 30 Sep 18, initial price was RM1.43, rose to RM1.66 (dividends RM0.03) in 8 months 21 days, total return is 18.2%

i) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM0.965 in 5 months 21 days, total return is 13.5%

j) SWKPLNT (SARAWAK PLANTATION BHD), recommended on 24 Mar 19, initial price was RM1.55, rose to RM1.74 in 2 months 27 days, total return is 12.3%

k) SERBADK (SERBA DINAMIK HOLDINGS BHD), recommended on 29 Jul 18, initial price was RM3.96, rose to RM4.10 (dividends RM0.084) in 10 months 22 days, total return is 5.7%

I wish to share my strategy to readers, hope that they can perform well after reading this. I am using Fundamental Analysis:

the forecasted growth of a company must > 14% per year

I wish to convince readers to learn FA in order to make money from stock market.

I am providing STOCK PICK SERVICE for readers who want to make money from Malaysian stock market. Those who want to subscribe to my mailing list to achieve a good return from stock market, you can contact me at jamesngshare@gmail.com or PM me in my FB page https://web.facebook.com/jamesshareinvest/

In order to facilitate the query of the company and stock picking articles and videos I have written, an index has been produced. Everyone can find company and stock picking articles and videos from https://web.facebook.com/jamesshareinvest/posts/2302632626670145 by date.

James的股票投资James Share Investing Blog: https://klse.i3investor.com/blogs/general/

James的股票投资James Share Investing Blog Index: https://klse.i3investor.com/blogs/general/blidx.jsp

Facebook Group: https://www.facebook.com/groups/jamesinvesting

This sharing is purely a discussion and analysis of the sector, buying or selling at your own risk. Please Like and Share this post. Final decision is always yours, thank you.

James Ng

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Labels: YINSON

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Chart Stock Name Last Change Volume 
YINSON 6.99 -0.08 (1.13%) 3,242,000 

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